Aleksey Muratov intends to make financial revolution in East Timor

Last Thursday, on March 2, a conference of the International Public Movement Change the World together (CWT) was held in Dili, the capital of East Timor, during which Chairman of the Board Aleksey Muratov presented his plan for the transition of this state to his own electronic currency.

ʺThere is no national currency in East Timor, and payments are made in US dollars. But if you look at the dollar, you will see that it is not a banknote of United States, but the US Federal Reserve System’s one, which is not a state body. The US Federal Reserve System was established by federal banks, which are backed by commercial organizations, i.e. individuals. They are a financial elite that controls all money in the world,ʺ Aleksey Muratov said.

Today, the core budget of the Republic is the funds that come from the extraction of oil and gas in the Timor Sea. However, under an extortionate agreement on joint development of 2003, the State of East Timor receives only 18% of the estimated proceeds of the gas and oil produced, and the rest arrives in the account of transnational extracting companies, including Royal Dutch-Shell and Conoco-Phillips.

ʺIf the East Timor authorities were to levy a tax on natural resource rent of 90% of the income of these companies, the funds received would allow raising every state resident’s salary by ten times, improving health care, education, pensions. State sovereignty, which East Timor seems to have after the declaration of independence in 2002, must be restored. Any sovereign State has the possibility of issuing banknotes and it is an inherent attribute of independence. Therefore, it is so important for East Timor to return control over its natural resources today, and to create its own national currency,ʺ Aleksey Muratov emphasized.

According to Aleksey Muratov, East Timor has a unique opportunity to make a financial revolution today. ʺIt is a small country with a population of about 1,4 million citizens, so the inhabitants of the state can mobilize and create their national currency as soon as possible. If this currency is Bitcoin or some other leading cryptocurrency, East Timor will transform from a raw material appendage of the West to the financial world centre,ʺ Aleksey Muratov said.

However, Aleksey Muratov states that such transition to electronic currency is possible, including through the active participation of Change the World Together in this process. He said that the movement was now actively developing in East Timor and, in the near future, the entire population of the country would join the CWT, which would allow the rapid introduction of national cryptocurrency. ʺThere were only four leaders in East Timor just a month ago, who began to develop and advance our movement. We now have hundreds of leaders and thousands of supporters of Change the World Together. I am very grateful to my close friend Alberto Carvalho Araujo, for his great contribution to the organization of the first Conference of our movement in Timor. I am sure that all citizens of the country will soon unite in a strong and friendly team. Today, the ideology of CWT is your instruction to financial freedom and independence,ʺ Aleksey Muratov summed up.